REDWOOD SHORES, CA--(Marketwired - March 11, 2015) - Saba (
So if you want to attract this talent pool, it pays to understand how they like to communicate and what they want from their managers. In fact, research shows that more than 50% of Gen X managers have trouble finding and retaining Millennial employees.
Millennials might be rookies, but they are full of energy and not afraid of hard work. So, to ensure that they succeed at your company, this requires the right coaching to flourish.
More importantly, this requires managers to review and revamp their approach to performance management. Millennials crave more feedback -- and not just in the form of managerial direction -- and more support with personal development. Workforce 2020 research shows that only 46% of Millennials believe their managers delivered on their expectations for feedback; and want feedback 50% more often than other employees.
So, what does this mean for your organization? Well, it looks like that traditional, once-a-year performance review just won't cut it.
More Status Updates
Research shows Millennials are preferably looking for feedback from their manager once a month, compared to non-Millennials who prefer less frequent updates. To move forward with their careers, they need and want direction and coaching, but the ranking- and rating-based systems are the antithesis of what the Millennial employee desires.
A better use of managers' time to keep them engaged is to encourage their growth, development and long-term engagement by leveraging technology (Millennial's favorite communication aid) -- and let them know that you are willing to help them learn and will guide them to the relevant resources to grow.
The good news is that learning to coach doesn't need to be expensive or time-consuming. Just provide a quick "status update" year-round.
How does your organization plan to respond to the Millennials' increased need for feedback in the workplace?
To read more about how organizations can better prepare for the personal development needs of Millennials and other generations in the workforce, download our eBook Winning Your Workforce: The Essential Guide to Improving Retention and Employee Performance.
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Samann Rahimi
srahimi@saba.com
650-581-2604